Enbridge (TSE:ENB) Rating Lowered to Hold at Scotiabank

Enbridge (TSE:ENB) (NYSE:ENB) was downgraded by analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued on Friday, Zacks.com reports.

ENB has been the topic of several other research reports. Wells Fargo & Company raised their price objective on shares of Enbridge from C$45.00 to C$48.00 in a research note on Tuesday, June 4th. JPMorgan Chase & Co. boosted their price target on Enbridge from C$55.00 to C$56.00 and gave the company an “overweight” rating in a research note on Friday, May 17th. BMO Capital Markets lifted their price objective on Enbridge from C$52.00 to C$54.00 and gave the stock a “market perform” rating in a report on Monday, May 13th. Barclays reduced their target price on Enbridge from C$53.00 to C$51.00 in a research report on Thursday, March 7th. Finally, Stifel Nicolaus decreased their price target on Enbridge from C$52.00 to C$51.00 and set a “hold” rating on the stock in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of “Hold” and an average target price of C$53.44.

Enbridge Trading Down 0.7 %

Enbridge stock opened at C$48.25 on Friday. Enbridge has a one year low of C$42.75 and a one year high of C$52.34. The company’s fifty day moving average price is C$49.10 and its two-hundred day moving average price is C$48.26. The company has a market capitalization of C$102.77 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 0.75 and a beta of 0.88. The company has a debt-to-equity ratio of 130.31, a current ratio of 0.68 and a quick ratio of 0.44.

Enbridge (TSE:ENB) (NYSE:ENB) last issued its quarterly earnings data on Friday, May 10th. The company reported C$0.92 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.81 by C$0.11. The business had revenue of C$11.04 billion during the quarter, compared to analysts’ expectations of C$12.24 billion. Enbridge had a net margin of 13.81% and a return on equity of 8.70%. On average, analysts forecast that Enbridge will post 2.8613689 earnings per share for the current fiscal year.

Enbridge Company Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.